Tanger Inc. (NYSE:SKT) Holdings Raised by Xponance Inc.

Xponance Inc. increased its position in shares of Tanger Inc. (NYSE:SKT) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,642 shares of the real estate investment trust’s stock after purchasing an additional 664 shares during the quarter. Xponance Inc.’s holdings in Tanger were worth $261,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Tanger by 32.2% during the third quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust’s stock valued at $249,625,000 after acquiring an additional 1,832,261 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Tanger by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,997,100 shares of the real estate investment trust’s stock worth $68,161,000 after buying an additional 31,750 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tanger by 387.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 775,411 shares of the real estate investment trust’s stock valued at $25,728,000 after acquiring an additional 616,417 shares during the period. Principal Financial Group Inc. raised its stake in Tanger by 5.4% during the 4th quarter. Principal Financial Group Inc. now owns 601,266 shares of the real estate investment trust’s stock valued at $20,521,000 after acquiring an additional 30,618 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Tanger by 33.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 557,168 shares of the real estate investment trust’s stock worth $19,016,000 after acquiring an additional 138,456 shares during the period. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SKT. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger in a research note on Tuesday, December 17th. They set a “hold” rating and a $37.00 price objective on the stock. BMO Capital Markets initiated coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target on the stock. Finally, The Goldman Sachs Group upgraded shares of Tanger from a “neutral” rating to a “buy” rating and increased their price objective for the company from $39.00 to $40.00 in a report on Friday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Tanger presently has a consensus rating of “Moderate Buy” and an average target price of $36.63.

Insider Buying and Selling at Tanger

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of Tanger stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total transaction of $404,750.00. Following the transaction, the chief operating officer now owns 113,158 shares of the company’s stock, valued at $3,664,056.04. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.80% of the company’s stock.

Tanger Stock Up 0.0 %

SKT stock opened at $32.88 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13. The firm has a market cap of $3.71 billion, a PE ratio of 37.79, a P/E/G ratio of 2.97 and a beta of 1.88. Tanger Inc. has a 12 month low of $25.94 and a 12 month high of $37.57. The firm has a 50 day simple moving average of $33.64 and a 200 day simple moving average of $34.00.

Tanger (NYSE:SKT) last released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $132.17 million during the quarter, compared to analyst estimates of $129.10 million. Tanger had a return on equity of 16.16% and a net margin of 18.65%. Equities research analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.35%. Tanger’s payout ratio is presently 126.44%.

Tanger Profile

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.